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Principles of Microeconomics

Rutgers the State University of New Jersey
Camden Campus
Department of Economics
Principles of Microeconomics, (50:220:102, 3 credits)

Syllabus and Class Schedule

Instructor:  Madan Mittal
Email:  You may contact me directly through the Sakai website.  Alternatively, you may also contact me at madanlmittal@gmail.com
Office Hours: I will be available on Mondays, Wednesdays and Fridays from 9:05 AM to 10:00 AM, and by appointment in Room 332 Armitage Hall.  I will also be in my office on Mondays and Wednesdays from 11:10 AM until Noon.

Course Objective
This course examines how economists think about issues and will prepare students for further courses in economics.

The objective of this course is to provide the student with a basic introduction to microeconomics. Topics include the market system, supply and demand, elasticity, cost, and equilibrium price.  We will also examine firm behavior under competition, monopoly and oligopoly.

Learning Objectives 
 After completing this course, the student will be able to

  1. Apply the supply and demand model graphically and numerically.
  2. Evaluate the opportunity cost of an economic decision.
  3. Describe the model of the firm and calculate how changes in input prices, product demand and market structure affect firm output, prices and profits. The student will demonstrate this by drawing simple, accurate graphs and through solving numerical problems. The student will be able to discuss and analyze, through homework and class exercises, the implications of operating under different market structures and the basic implications of efficiency and failures of the market system.

After this course, students will be familiar with how an economist thinks, using opportunity cost, marginal analysis, supply and demand analysis. Such familiarity is meant to instill an appreciation of both the power and limits of economic analysis and constitute a framework for future courses.

Textbook and Other Required Materials
Text Book:         Principles of Microeconomics, 7th ed., by N. Gregory Mankiw,
Publisher:           Cengage Learning
ISBN-13 #:         978-1-285-16590-5
ISBN-10 #:         1-285-16590-X

Students should have a non-programmable calculator. No exam may be taken with a programmable calculator or cell phone.

Course Requirements and Grade Evaluation
Grades will be based on your performance in Homework, Quizzes, Midterm Exam and Final Exam. 

     Evaluation Tool         Weight
     Homework                   36%
     Mid Term Quiz              24%
     Final Exam                   40%

Letter Grades
A       90.0-100.0             B+    82.0-89.9         B       74.0-81.9
C+    66.0-73.9                C       58.0-65.9        D       50.0-57.9
F       Below 50.0

Homework Assignments, Class Prep & Participation
Students are responsible for reading the chapters, preparing assigned problems and analysis for discussion before each class. Do them early to avoid any emergencies preventing your completion by the due date.

Please access the Sakai site regularly for any updates or notices.

Exam Policy
Questions are based on assigned textbook readings, homework problems and class lectures and discussions. You are responsible for concepts that are assigned in the readings even if they are not explicitly covered in class.

Final Exam
Grades of incomplete will not be given to students who do not take the final exam unless I am contacted prior to submitting my grades with written documentation of hospitalization, etc. Students who do not take the final exam and do not present credible written documentation will receive a zero on the final.

Academic Integrity
Cheating or the appearance of cheating will result in an automatic F for the course. I encourage working together on homework; however, hand in individual assignments.

Attendance/Class Participation and Rules
Active participation in class discussions is important for the success of our class. Please give me an email notification if you must miss class. Please turn off speaker/sound on all cell phones, headphones, personal computer and electronic devices before class begins.

Statement on Academic Freedom
Freedom to teach and freedom to learn are inseparable facets of academic freedom. I ask that you respect each other’s opinions, especially when they differ from your own.

Students with Disabilities
I ask any student with a need for accommodation based on the impact of a disability to inform me as soon as possible. The Office of Disability Services (856-225-6442) is part of the Rutgers-Camden Learning Center located in Armitage Hall, EOF Office Suite, Rooms 358-368. Tim Pure, is the Disability Services Coordinator. He can be reached by contacting the Rutgers-Camden Learning Center at (856) 225-6442 or at tpure@camden.rutgers.edu. Also, visit the Office of Disability Services website http://learn.camden.rutgers.edu/disability/disabilities.html

Together, we will coordinate reasonable accommodations for students with documented disabilities.

Reading Assignments
A list of reading Assignments for the semester is shown below.  Additions and changes will be communicated to you separately.

Week           Assigned Reading
1                   Intro and Chapter 1
2                   Chapters 1 and 2
3                   Chapter 2 and Appendix
4                   Chapter 3  
5                   Chapter 4
6                   HW1 is Due, Chapter 5
7                   Chapter 6  
8                   Chapter 7
9                   Mid Term Exam and Chapter 8
10                 Chapter 8
11                 HW 2 is Due, Chapter 9
12                 Chapter 13
13                 Chapter 14
14                 Chapter 15
15                 HW 3 is Due, Chapter 16